أسئلة وأجوبة
How can I secure a loan repayment to a friend without a formal contract to prevent future claims?
Hello,
I had a transaction with my friend through a UAE bank. He gave me 250,000 AED, but I’m returning the money to him in India. There’s no contract or agreement between us.
I had given him a check, and now he’s returning it to me. What else should I take from him to ensure he doesn’t make any future claims against me?
Please advise! Thank you so much!
Dear Questioner,
If he hands you the check, that should be sufficient. For added reassurance, you could draft a settlement agreement between you and him to ensure he does not make any future claims.
If you have any other questions, please contact us at the phone number: [---------].
Hello,
Draft a simple document for your friend to sign, stating the following: the amount he initially gave you (250,000 AED), the fact that you are returning this amount, the date of repayment, and a statement that he has no further claims or obligations regarding this amount.
Prepare a receipt to document the transaction, including your name and your friend’s name, the amount being returned, the transaction date, and a brief description (e.g., "Repayment of 250,000 AED").
Greetings,
You can take a statement from him or make an agreement, we can help you with that.
We are honored to provide you with legal support. For further inquiries about your topic, you can come to our office or contact us via WhatsApp, phone, or email.
Thank you for reaching out regarding your situation!
It's important to ensure that you have adequate documentation to protect yourself in case of any future claims.
Since there is no formal contract or agreement in place, I recommend that you take the following steps:
- Written Acknowledgment:
Request a written acknowledgment from your friend stating that he has received the AED 250,000 and confirming that no further claims will be made against you regarding this transaction.
- Receipt:
Provide him with a receipt for the check being returned, including the amount and a note that this settles the transaction between you.
- Communication Record:
Keep a record of all communications related to this transaction, including messages or emails discussing the return of funds.
- Consultation:
It may be beneficial to consult with a legal professional to draft a simple release or settlement agreement that outlines the terms of your arrangement, ensuring both parties are clear on the situation.
If you’d like to discuss this further or need assistance drafting the necessary documents, please feel free to reach out to me directly via WhatsApp or phone at [---------], or you can email me at [----------].
Best regards,
Suhail Rana
